The Sherman Anti-Trust Act of 1890 - TR Center
Sherman Antitrust Act (1890) text
The Sherman Act passed bynearly unanimous votes in both houses of Congress. Although sweeping in its language, the Sherman Act soon revealed itslimitations.
LINFO The Sherman Antitrust Act (1890) Section 1
But one approach was destined to win out. The Sherman Act and Early Enforcement
In 1890, Congress took aim at the trusts with passage of the ShermanAnti-Trust Act, named for Senator John Sherman (R-Ohio).
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One important limitation was added: the Clayton Actexempted unions from the scope of antitrust law, refusing to treat humanlabor as a commodity. The second piece of federal legislation in 1914 was the Federal TradeCommission Act.
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Later court rulings would allow itgreater latitude in attacking Sherman Act violations. These laws helped satisfy the short-term demand for tougher, moreexplicit action from Congress.
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These fall into four main areas:agreements between competitors, contractual arrangements between sellersand buyers, the pursuit or maintenance of monopoly power, andmergers. The Sherman Anti-Trust Act of 1890 (15 U.S.C.A.
Inits potential for far-reaching action, this was the biggest antitrustcase since those involving AT&T and IBM.
As World War I and the 1920sreversed the outlook of previous years, antitrust policy wascharacterized by the hands-off policies of President Calvin Coolidge,who declared, "The business of America is business." Economic trendscreated and supported this attitude; prosperity seemed a worthwhilereward.